Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $13.60 Average PT from Analysts

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $13.60.

A number of brokerages recently issued reports on OBIO. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. B. Riley Financial decreased their target price on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Barclays lifted their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Orchestra BioMed in a research note on Thursday, May 14th.

Orchestra BioMed Price Performance

NASDAQ OBIO opened at $3.74 on Wednesday. The business’s fifty day moving average is $3.96 and its 200 day moving average is $4.13. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $5.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03. The company has a market capitalization of $223.95 million, a PE ratio of -3.86 and a beta of 0.49.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. Sell-side analysts predict that Orchestra BioMed will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $3.87, for a total value of $58,050.00. Following the completion of the transaction, the insider owned 1,184,327 shares of the company’s stock, valued at approximately $4,583,345.49. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Aryeh purchased 8,971 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $34,986.90. Following the completion of the acquisition, the director owned 117,453 shares of the company’s stock, valued at approximately $458,066.70. This trade represents a 8.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 39,636 shares of company stock valued at $158,081. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OBIO. Bank of America Corp DE lifted its position in shares of Orchestra BioMed by 42.0% in the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after buying an additional 7,036 shares in the last quarter. Creative Planning purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at about $40,000. XTX Topco Ltd bought a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $45,000. Marshall Wace LLP purchased a new position in Orchestra BioMed in the second quarter worth about $133,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter worth approximately $118,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical?stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high?unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early? and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.